Darkfost2026-07-19

Binance and Bybit see Over $2.3B in stablecoin outflows as BTC liquidity dries up

It has now been nearly 165 days since BTC has been testing this key $60,000 level, and this despite a push above $80,000 in May that failed to hold or reignite Bitcoin's upward momentum. Among the reasons behind this configuration, the lack of fresh liquidity entering the market stands out as a central factor. Whether for direct exposure to BTC or to the broader crypto market as a whole, fresh demand is struggling to materialize. Looking at the evolution of stablecoin reserves on exchanges, the picture has been particularly negative since the start of the year, with a near-constant decline reflecting a clear dominance of outflows over inflows. Over the past 30 days alone, $1.55B in stablecoins have left Binance's reserves, an outflow that remains highly significant at this timeframe. The picture is just as striking on Bybit, with -$786M over the same period, bringing the combined total to nearly $2.3B across these two exchanges alone. This decline in reserves sends a clear signal. Incoming demand and liquidity are contracting, and investors appear to be favoring the withdrawal of their stablecoins from exchanges, when they aren't leaving the market altogether. It is therefore this still-too-pessimistic market-wide positioning that continues to deprive BTC of the resources it needs to durably break out of this consolidation zone.